Eos Energy Enterprises (NASDAQ:EOSE) Upgraded at TD Cowen

TD Cowen upgraded shares of Eos Energy Enterprises (NASDAQ:EOSE) to a hold rating in a research note released on Monday,Zacks reports.

Other research analysts also recently issued reports about the stock. Truist Financial started coverage on shares of Eos Energy Enterprises in a research note on Monday, July 13th. They set a “buy” rating and a $7.00 price objective on the stock. B. Riley Financial dropped their target price on shares of Eos Energy Enterprises from $8.00 to $5.00 and set a “neutral” rating for the company in a research report on Friday, August 14th. Needham & Company LLC reduced their price target on shares of Eos Energy Enterprises from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eos Energy Enterprises in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded Eos Energy Enterprises from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.19.

Eos Energy Enterprises Price Performance

NASDAQ:EOSE opened at $3.10 on Monday. The business’s 50-day moving average is $3.68 and its two-hundred day moving average is $5.30. Eos Energy Enterprises has a 12 month low of $2.96 and a 12 month high of $19.86. The firm has a market capitalization of $1.13 billion, a PE ratio of -0.45 and a beta of 2.88.

Eos Energy Enterprises (NASDAQ:EOSE) last posted its earnings results on Wednesday, August 5th. The company reported ($1.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($1.01). The firm had revenue of $68.78 million for the quarter, compared to analyst estimates of $68.32 million. During the same quarter in the prior year, the firm posted ($1.05) earnings per share. Equities analysts anticipate that Eos Energy Enterprises will post -1.28 EPS for the current year.

Insider Transactions at Eos Energy Enterprises

In other Eos Energy Enterprises news, CAO Sumeet Puri sold 43,750 shares of Eos Energy Enterprises stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $3.92, for a total value of $171,500.00. Following the completion of the transaction, the chief accounting officer owned 280,195 shares of the company’s stock, valued at $1,098,364.40. The trade was a 13.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Haiyan Song bought 10,000 shares of the stock in a transaction on Friday, September 11th. The shares were acquired at an average price of $3.95 per share, with a total value of $39,500.00. Following the purchase, the director owned 10,000 shares of the company’s stock, valued at $39,500. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 626,655 shares of company stock valued at $2,336,158. Company insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Eos Energy Enterprises

Institutional investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in Eos Energy Enterprises by 198.6% in the second quarter. Allworth Financial LP now owns 4,300 shares of the company’s stock worth $25,000 after acquiring an additional 2,860 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Eos Energy Enterprises by 33.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 5,732 shares of the company’s stock valued at $66,000 after purchasing an additional 1,425 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Eos Energy Enterprises by 279.4% during the first quarter. PNC Financial Services Group Inc. now owns 9,577 shares of the company’s stock valued at $48,000 after purchasing an additional 7,053 shares during the last quarter. KFA Private Wealth Group LLC bought a new position in shares of Eos Energy Enterprises during the first quarter valued at approximately $50,000. Finally, Nykredit A S acquired a new stake in shares of Eos Energy Enterprises during the 2nd quarter worth approximately $60,000. Institutional investors own 54.87% of the company’s stock.

About Eos Energy Enterprises

Eos Energy Enterprises, Inc develops and manufactures long-duration energy storage systems designed to support the electric grid and renewable energy projects. Its technology is based on aqueous zinc battery chemistry, which is intended to provide a safer, nonflammable alternative to conventional lithium-ion systems for stationary energy storage.

The company’s primary product is the Eos Z3 energy storage system, a modular, utility-scale battery platform designed for applications such as renewable energy integration, grid resilience, peak-load management, and microgrids.